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To: Jerry G. who wrote (21669)11/17/1997
From: Paul Merriwether  Respond to of 176387
 
Jerry
We obviously disagree on the medium term outlook for the stock market.
I agree that the US economy is doing great, but the global economy
isn't all healthy and its going to have a "small, but not negligible"
effect on corporate earnings etc. Also, the room for growth in the
US economy is marginal, especially considering the level of employment(i.e. we would need a huge spurt of "productivity").